Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The companys discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product:

Cost of equipment needed	$206,000
Working capital needed	87,000
Overhaul of the equipment in two years	10,500
Salvage value of the equipment in four years	13,500
Annual revenues and costs:
Sales revenue	430,000
Variable expenses	210,000
Fixed out-of-pocket operating costs	88,000

When the project concludes in four years the working capital will be released for investment elsewhere within the company.

Required:

Calculate the net present value of this investment opportunity. (Round discount factor(s) to 3 decimal places.)

Net Present Value

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